Life Insurance

Life insurance is designed to pay a beneficiary a sum of money upon the death of the insured. The advantage for the policy owner is "peace of mind", in knowing that the death of the insured person will not result in financial hardship for loved ones. Life insurance for Seniors is a terrific tool for wealth transfer. The benefit of a life insurance policy is tax free to the beneficiary. A good example is if a person has a sum of money sitting in a CD earmarked for their children. The earnings would be taxed and would take years to grow. That same sum in a life insurance policy would grow immediately and be tax free.